THALES GROUND TRANSPORTATION SYSTEMS UK LIMITED

Company number: 05805963

Reporting period:
1 January 2019 to 30 June 2019

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This report was filed on 24 July 2019

and approved by James Jackson

Payment statistics

Average time taken to pay invoices: 45 days

Invoices paid:

• within 30 days: 59%
• in 31 to 60 days: 27%
• in 61 days or more: 14%

Invoices due but not paid within agreed terms: 43%

Payment terms

Shortest standard payment periods

14 days

Longest standard payment period

90 days

Standard payment terms

Payment by Thales shall be 30 days from the end of the month in which the invoice is received.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

90 days

The Supplier shall submit invoices to the address stated on the Order after Delivery of the Goods or the performance of the Services. Every invoice shall include the following information: Order number and the Order item number; Goods and/or Services to which it relates; Supplier’s VAT number; Supplier’s bank account number, sort code and invoice address; invoice number; date of the invoice; name of the relevant Thales company and its full address; Delivery Address; Price and the total amount due; and any other information reasonably required by Thales. Thales may reject any invoice that does not include the information set out above. No payments shall be made until and unless the Goods and/or Services have been accepted. Thales shall be entitled to set off against the Price any sums that are owed to Thales by the Supplier. If Thales does not make a payment against a correctly submitted invoice within the period stated in standard payment terms, the Supplier may charge interest on such late payment at a rate no greater than 4% per annum above the Bank of England’s base rate calculated on a daily basis commencing 14 days from the date on which payment was due provide that the Supplier has given 14 days written notice to Thales that such payment is overdue.

Any other information about payment terms

N/A

Dispute resolution process

Thales UK will endeavour to advise suppliers promptly of any disputes or reasons why an invoice will not be paid to the agreed terms. Invoices that are subject to dispute will not be paid until resolution of the dispute.  Once resolved, payment will be made in accordance with the terms of the contract, this document and the UK Prompt Payment Code.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No, this business has not signed up to a code of conduct or standards on payment practices.

Does this business offer e-invoicing in relation to qualifying contracts?

This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.

No

Does this business offer supply chain finance?

This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

No

Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No